University of Vermont

Administrative Business Service Center

Finance and Reporting
Budgeting
Monthly financial reporting
Quarterly financial reporting
Chartstrings

Budgeting  

The AAP assigned to your department will attend annual budget planning meetings so that they can accurately help with the forecasting which will be used in informing the budget-building process for the upcoming fiscal year.  The ABSC will build the upcoming fiscal year budget for Fund 100 and Fund 150 and enter the information into EPM (PeopleSoft Budgeting System).  The ABSC will enter the upcoming fiscal year salary distributions, for all funds, as part of the annual EPM budget cycle.

Back to Top

Reporting

Monthly Financial Reporting (Initiated by the ABSC)

One week before the calendar month end the BSG assigned to your department will run Closeout report and finalize outstanding transactions before the given month end close.  This includes verifying the following:
  • All journals (including Purcard reallocations) for the month end have been submitted for approval and posting.
  • Ensure all applicable cash advances, travel authorizations, and expense reports are complete.
  • Verify all purchase requisitions have a valid budget checking status, and request the closeout of any completed purchase orders. 
  • If there are any budget checking errors remaining, research the issue and resolve if possible prior to month end.
After an accounting period is closed the following will occur by the 15th of the following month:
  • The AAP assigned to you departmnet will run the Monthly Operating Report and Monthly Project Report prepare the monthly analysis and place in the applicable shared drive (S:\) for the Department/Director to access.
The ABSC AAP will meet monthly with the Department/Director to cover the following:  
  • Review the results for the month.
  • Plan for upcoming activities in order to take a proactive approach to fiscal activities as well as prepare for year end results, and discuss any other issues that may arise. 
  • Any adjustments to budgets that need to be made.
Back to Top

Quarterly Financial Reporting (Initiated by the ABSC)

The AAP will meet quarterly with the Department to review the prepared Quarterly Reporting Model. The completed model will be placed in the applicable shared drive for the Department to access. The following will be covered in the quarterly meeting:
  • The quarterly results of all operations that fall under his/her fiscal authority.
  • Discuss the plan for upcoming activities in order to take a proactive approach to fiscal activities as well as prepare for year end results, and cover any other issues that may arise.
  • Any adjustments to budgets that need to be made.
Back to Top

Chartstrings

The ABSC will maintain a listing of the chartstrings to be used in conjunction with all transactions for each of the departments that are being served by the ABSC. This file will contain an agreed upon name for each chartstring, as well as the chartfield values. The file with the listing will be stored in the specified S: folder.  
Back to Top


Ad-Hoc Financial Reporting (Initiated by the Department)

The Department/Unit will email AdminBSC@uvm.edu with request for ad-hoc reporting.  The ABSC will run ad-hoc reporting as needed and place the output and/or analysis in the applicable shared drive (S:\) folder. The ABSC team member working on these requests will vary according to the level of complexity in reporting and analysis needed.
Back to Top


Ad-Hoc Human Resources Reporting  (Initiated by the Department)

The Department/Unit will email AdminBSC@uvm.edu with request for ad-hoc reporting.  The ABSC will run ad-hoc reporting as needed and place the output and/or analysis in the applicable shared drive (S:\) folder. The ABSC team member working on these requests will vary according to the level of complexity in reporting and analysis needed.
Back to Top

Last modified September 19 2013 10:59 AM

Contact UVM © 2014 The University of Vermont - Burlington, VT 05405 - (802) 656-3131